It is a swing-for-the-fences for Orlando, which came under immense pressure to make a big trade while losing five of its last six games and taking an obvious back seat to Boston and Miami in the East. Turkoglu, who struggled in stints with Toronto and Phoenix, returns to Orlando -- where he was a key piece in Magic's run to the 2009 NBA Finals.

Arenas is the bigger name, but the key to the deal could be Richardson, a perimeter sniper who fits the Magic's style and gives them a clutch scorer and big-time shooter to further space the floor for Dwight Howard.

The Rockets tried to get into the mix for Gortat, whom they've coveted for several years, but wouldn't give up Kevin Martin, two people familiar with the situation said.

In addition to making Orlando a more potent offensive team -- and, once again, a matchup nightmare with Turkoglu back in the role that suits him best -- the second part of the deal gives a much needed fresh start to Arenas. The former All-Star gets an improbable chance to resurrect his career away from the place where his status as the face of the Wizards franchise crumbled amid persistent knee injuries and a 50-game suspension for bringing firearms to the Verizon Center locker room last season.

Aside from trying to reload in a way that justifies their $94 million payroll, the Magic also are taking bold steps to placate Howard and dissuade him from entering the 2012 free-agent class. Some members of the Magic organization, including Howard and coach Stan Van Gundy, have had serious reservations about bringing in Arenas since CBSSports.com first reported in October that a deal had been arranged for the mercurial superstar over the summer. That deal was built around Carter going to Washington.

Magic GM Otis Smith, who has a close relationship with Arenas from their days in Golden State, will consummate his months-long effort to extract Arenas from Washington. The Wizards, who have turned the franchise over to No. 1 pick John Wall, are all too willing to oblige -- especially given the $62 million Arenas is owed over the next three seasons.

"It was a challenging situation for Gilbert," Arenas' agent, Dan Fegan, told CBSSports.com. "Ted Leonsis gave him a clean slate and really worked to make this situation work. He did a very decent thing by brokering a trade to Orlando and giving Gilbert a second chance."

That is the price Orlando had to pay to make room for Turkoglu and Richardson, whose presence made Lewis -- whose production has significantly declined -- no longer necessary. While the Magic are taking on significant money with Arenas and Turkolgu, Richardson's $14.4 million contract expires after this season. And Turkoglu eases the burden because he accepted a reduction in guaranteed money in 2013-14, the final year of his contract, as part of the trade that sent him from Toronto to Phoenix.

The dual swaps presumably give Orlando a starting lineup of Howard at center, Brandon Bass at power forward, Turkoglu at small forward, Richardson at shooting guard and -- here's the big question -- either Arenas or Jameer Nelson at point guard. Van Gundy also has the flexibility to play Turkoglu at the four in smaller lineups that might feature Richardson at the three with Nelson and Arenas in the backcourt. While Smith could've waited until the 11th hour on the Feb. 24 trade deadline to complete the Lewis-for-Arenas portion, the upside is that Van Gundy gets more time to figure out how to fit all of these pieces together. With Boston having the most continuity among its stars in the East, and with Miami beginning to make its Big Three work on an 11-game winning streak, time is a valuable commodity to the Magic as they try to retool on the fly.

From the Phoenix perspective, the Suns get a much-needed big man in Gortat, a poor man's version of Richardson in Pietrus, and the essentially expiring contract of Carter, who has only $4 million guaranteed next season. But besides Gortat, the primary haul for Phoenix is a first-round pick and $3 million for cash-strapped owner Robert Sarver -- raising serious questions about whether Steve Nash will want to stay in Phoenix to rebuild.

Magic getting Arenas, Turkoglu in blockbuster

Losing Gortat does hurt, as they need to bring in a backup for Howard due to his propensity to get into foul trouble, but other than that, they've got a solid rotation that's very versatilewouldnt shock me if the Magic relased a player and signed a backup center at all.

Since: Jul 11, 2009

Posted on: December 18, 2010 5:18 pm

Magic getting Arenas, Turkoglu in blockbuster

Ken, where does Steve Nash end up? Could we see Jameer Nelson on the move after this?

Amazing trade for Orlando. They had so many pieces that they needed to move some things around, and they could still make another deal and have depth. Quality rotation guys:

Howard Bass Turkoglu J. Richardson Nelson

Arenas Anderson Q. Richardson Redick Williams Duhon

That's ten guys who could see playing time on most teams in the league. Losing Gortat does hurt, as they need to bring in a backup for Howard due to his propensity to get into foul trouble, but other than that, they've got a solid rotation that's very versatile. They've got six players who can play multiple positions and give you flexibility to field different lineups. Only problem is that they're now carrying a lot of small guards, so I'd look for a couple more guys to be on the move.

Also, doesn't this whole Turkoglu thing now seem a bit more ridiculous that he's back? Everyone said he should have stayed in the first place...

Since: May 23, 2007

Posted on: December 18, 2010 5:18 pm

Magic getting Arenas, Turkoglu in blockbuster

The first round pick is nothing to fret over as the Magic weren't getting anyone who could contribute with it. Lewis and Carter have appeared to lack INTENSITY---maybe they're dinged up physically...but they've both played forever in NBA games and they ahave both been showing deceased quickness and aggressiveness and the killer instict at crunch time. Maybe there were some chemistry issues only those on the inside will know about. Gortat also has not been as aggressive of late as in the past. The problem for the Magic with the trade is the Magic must have a back-up center because their opponent game plan is always first and foremost get Dwight in foul trouble. So another deal is likely and my guess and hope is it's w/Turkoglu, who the Magic really don't need and who also has shown less intensity and aggressiveness since leaving for Toronto. I see the starting 5 as Nelson, Arenas, Richardson, Bass, and Howard...which makes the Magic smaller...w/Redick and Turkoglu rotating in (assuming Turk stays, which I just don't see happening). I see Boston as having a better inside game...

Since: Sep 1, 2006

Posted on: December 18, 2010 5:15 pm

Magic getting Arenas, Turkoglu in blockbuster

ORLANDO JUST STEPPED THIER ROSTER UP COMPLETELY.. THIS WAS A GREAT MOVE... THEY JUST FILLED THE ROSTER WITH TONS OF OFFENSE... EVERY GUY THEY JUST GOT IS A 3 POINT THREAT.. and ARENAS CAN HANDLE THE POINT GAURD.. and THEY STILL HAVE NELSON.. THIS MOVE WAS GREAT.. THAT TEAM WAS A DEAD DUCK AS IT WAS.. THEY MADE A GOOD MOVE>>> WELL DONE

Since: Oct 11, 2006

Posted on: December 18, 2010 5:13 pm

Magic getting Arenas, Turkoglu in blockbuster

It seems to me that in order for this to be a good deal for Orlando they must get production from Arenas, which I see no reason to assume will happen. i somewhat agree here, tell you why in a minute.When you see this trade as what it probably will be in the end Turk and JRich for Carter, Lewis, Gortat and a 1st round pick, it doesn't seem so good for Orlando in my opinion.on paper, yes, it looks bad, BUT if and that's a big if, Turkoglu plays like he did in his last stint in Orlando, this trade could be a winner for Orlando, but as of now, the winner in my view is either Washington or the Suns. Carter is on a one year deal and they also got Pietrus and i think it's a good deal for the Wizards because Lewis should fit in well with them, especially when Wall is healthy and stays healthy.

As of now, it looks like the Magic didnt get the best of the deal (lost a first round pick), but like i said, this trade depends on Hedo, Richardson and Arenas, if two or all three of those guys play well, then they did well, but if one of them plays well while the others dont, this trade looks bad

Since: Aug 21, 2006

Posted on: December 18, 2010 5:07 pm

Magic getting Arenas, Turkoglu in blockbuster

It seems to me that in order for this to be a good deal for Orlando they must get production from Arenas, which I see no reason to assume will happen. When you see this trade as what it probably will be in the end Turk and JRich for Carter, Lewis, Gortat and a 1st round pick, it doesn't seem so good for Orlando in my opinion. It actually looks to me like Orlando got the worse deal of the three teams involved. Lewis will do more this season than Arenas will.

Since: Oct 3, 2006

Posted on: December 18, 2010 5:05 pm

Magic getting Arenas, Turkoglu in blockbuster

There's so many players moving in this deal that it's hard to judge who "won" this trade. That said, Orlando is the only contender out of the three and I think these deal helps them. Their starting lineup just got younger and more athletic (assuming Turk comes off the bench--and I think he should). And to be honest, I wasn't a fan of Lewis or Carter anyway. I think they're soft players, and the Magic already have a soft superstar in Dwight Howard. I'm not trying to knock Dwight, but let's be honest, he's a goofball. And yeah Arenas is a bit of a goof himself but I think Turk and J-Rich have the toughness to offset that.

I like this move (in the short term) for the Magic, they just have to figure out who's coming off the bench--Turkoglu or Nelson. I can't see Areanas coming off the bench with that contract. I think Turk is best suited to come off the bench because he can play a couple positions.

Now the REAL question: Does this move put Orlando up there with the East's elite, Boston and Miami? And yes, I intentionally didn't mention Chicago because we all know they're not an elite team. Enough, Bulls fans. Enough.

Since: Oct 11, 2006

Posted on: December 18, 2010 5:02 pm

Magic getting Arenas, Turkoglu in blockbuster

this is a strange, but interesting trade for all teams involved. the Wizards get a good player in Rashard Lewis and IF Wall can stay healthy, Lewis is a good shooter to have on your team and the Arenas/Wall combination finally ends. The Magic get back Hedo Turkoglu (who played well when there), Jason Richardson (wait and see deal) and of course Arenas, it will be interesting to see how Richardson and Arenas play in Orlando with Howard. As for the Suns, they get Vince Carter (good move for the short term) and Pietrus (good shooter) and of course Gortat. It's an interesting trade in my book, how will Carter play with Nash for a year??? How will Turkoglu play in his return with the Magic??? will Richardson play well in Orlando?? and what will happen with Arenas? i expect Lewis to play well.

Since: Jun 20, 2010

Posted on: December 18, 2010 4:36 pm

Magic getting Arenas, Turkoglu in blockbuster

You got rid of Arenas and his huge contract, that's what you get out of the deal! Your team sucks, and needs to rebuild, big time. John Wall needs to learn how to play without hurting himself every game and now the team has got some money to spend on free agents next season. Not sure who would want to go to Washinton to play, but maybe John Wall twitter while he is sitting on the bench resting his injuries and try to convince someone to come play with him. My biggest problem with this trade is all the roundmouths that will try to be funny with their stupid Arenas Orlando gun jokes, key word try. It's amazing the morons that get paid and don't get paid to comment about sports these days.

Look on the bright side, at least your baseball team should be half-way decent in a couple of years, probably more like 3 years actually.

Since: Aug 22, 2006

Posted on: December 18, 2010 4:33 pm

Magic getting Arenas, Turkoglu in blockbuster

Wow... I think all three teams just got worse.. Richardson fits better in Phoenix system than in Orlando...Carter should have went to the Wizards rather than Phoenix, Lewis shoould have gone to Phoenix instead of Washington..Arenas should still be in prison, but since he's not, he should join Iverson in Turkey and join a team of washed up "gunning" guards...I dont see how any of the teams got any better..Turk is two years older and two years slower now as well...The Magic part with Gortat who was a servicable back-up to the foul plagued Howard....I just see all three teams being a little worse than they were prior...If anything the Wizards improved due mainly to the fact i strongly believe Arenas is finished..